Rating upgraded

Thursday, Nov. 18, 2004 | 11:03 a.m.

Las Vegas-based Sierra Health Services Inc.'s financial-strength rating was upgraded Wednesday, indicating the company is doing well.

A.M. Best Co., which rates insurers, upgraded Sierra's rating to B++ from B+, both of which are considered secure ratings and show Sierra is able to meet its obligations to policyholders, the ratings company's Web site said.

The New Jersey-based ratings company also upgraded Sierra's debt rating to "bb" from "bb-." Neither of these ratings are considered investment grade. The debt rating is for Sierra's $115 million of 2.25 percent senior unsecured convertible debentures, which are due in 2023.

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